Foreclosure Sales- SB 128 PDF Print E-mail

Requires certain persons to record foreclosure sales and sales of real property under a deed of trust within a certain period of time

SB 128
Sponsored by: Senator Parks
BILL STATUS: Approved by Governor, Chapter 247. Effective July 1, 2009

Nevada has the highest foreclosure rate in the country and we can no longer afford to let those numbers increase. Senator Parks is taking steps to solve this problem. Existing law provides for a trustee to execute a power of sale on real property after a breach of an obligation or payment of debt due to the trustee.

To learn more about SB 128, or to track the legislation's progress, click here

Senator Parks’ bill would amend this law to require (1) the beneficiary of the deed of trust to pay all sums of money necessary to acquire a clear title to the property and to record the deed of trust; and (2) the trustee to record the sale of the property with the appropriate office of the county recorder within 30 days after the date of the sale. Existing law provides for a person to proceed on an action for the recovery of any debt or for the enforcement of any right secured by a mortgage or other lien upon real estate.
 
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Legislation To Watch

Makes various changes relating to systems for obtaining and using solar energy and other renewable energy resources
SB 114
Sponsored by: Senator Schneider, Clark District 11
BILL STATUS: Approved by the Governor, Chapter 353. Effective July 1, 2009

Existing law sets forth a prohibition against covenants, restrictions or conditions contained in deeds, contracts or other legal documents which prohibit or unreasonably restrict an owner of property from using a system for obtaining solar or wind energy on his property.

This bill includes within the prohibition any such covenant, restriction or condition which has the effect of prohibiting or unreasonably restricting the property owner from using such a system. The Bill goes on to describe what an unreasonable restriction includes. It appoints the Director to make determinations concerning the efficiency or performance of a system for obtaining solar or wind energy.

To learn more about SB114, or to track the legislation's process, click here

 
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